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Cavuto on Business

News/Business. Neil Cavuto and market analysts discuss financial issues and forecasts. (CC)

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00:30:00

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Virtual Ch. 130 (Fox Business)

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mpeg2video

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ac3

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704

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480

TOPIC FREQUENCY

Gerri 5, New York City 4, Payne 3, Basel 2, Jonas 2, New York 2, Buddy Charles Payne 1, Yesteryear 1, Charlie Gasperino 1, Gerri Willis 1, Cavuto 1, Nancy Pelosi 1, Styrofoam 1, Staten Island 1, U.s. 1, Lashins Lashinsky 1, Arles 1, Neil Cavuto 1, Molly 1, Polly Styrene Clamshell 1,
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  FOX Business    Cavuto on Business    News/Business. Neil Cavuto and market  
   analysts discuss financial issues and forecasts. (CC)  

    February 17, 2013
    1:30 - 2:00am EST  

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>> predictioning. john, you're up. >> i'm sticking up for fat people and saying the heck with the sugar police. christy cream products has
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been good as their management is bad and changing and stock up 25-- >> larry bull or bear. >> a bear on that one. >> brenda: gary b, your prediction. >> carnival, i just talked about it, it's on sale and certainly on sale on monday morning, i'd be a buyer, five years from now-- >> jonas bull or bear bear the tickets will be on sale. >> brenda: and yours. >> agriculture, and did. >> gary bchlts. >> bear, leads it to dead flowers. >> brenda: jonas. >> an asteroid close to extinction for the planet and we can't do anything, and doesn't mean the government won't try. >> brenda: john bull or bear. >> brenda: okay, out of this world. cavuto on business is next. >> neil: all right. television, you might want to run for cover in four years you could have some major competition. hi, everyone, i'm neil cavuto, glad to be back, thanks to my
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buddy charles payne for all of his heart work. and uortunately ratings while i'm out and more i'm going to deal with him. and first to this guy and what i sense could be coming right now. the star, just hit me when during his state of the union address i heard this. >> nothing i'm proposing tonight should increase our deficit by a single dime and i instantly thought of this. all the work it does, this machine should sell for over $400 you know you're fot going to spend $400 for it not 375 or 350, all you spend for in fabulous machine and over $400 value, all you spend is just four easy monthly payments of 39.95. >> neil: we found a better deal. the president's pitch won't call you four easy installments of 39.95, he says
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it won't add a dime to our debt. the 90 billion dollars pre-school plan. not the 40 million dollars infrastructure plan. >> i have no idea. on the college career fund. that's right, three new government programs that on paper some say cost 146 billion bucks, not a dime added to our deficit. and pitching on more than that, but one problem with the pitch, okay, here is the thing, someone's got to pay for it. guess who? gerri willis, adam. lashins lashinsky. charlie gasperino. >> neil: and to like i said, arles payne who did such a od job, i'm cutting -- >> and unfortunately your mic does work. >> outside of the aspecof this. extraordinarily dangerous thing.
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and the overall tone was, people have it, they've got it nefariously and i will get it for you. no, it's not going to cost the government anything. it's going to cost something, i'll get it from the people that somehow got it from main street. you know, i'll go and get it from them. don't worry about it, it's not gointo cost you a dime. >> neil: there are a lot of things to worry about, proposed in the state of the union address. he didn't say you'll get it free, but stuck it into the deficit meaning someone is going to see something and pay something. >> you bet. i mean, no doubt about it and i have to tell you, i think it's immoral to make all of these promises when you know at the end of the day you can't afford it, we can't afford it. to say pre-school for everybody, are you kidding me? we don't have the money for that. he promises mortgage assistance. >> 3000 for everybody, and this is just crazy talk and i think it's immoral to put this
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across as something that's doable when it's not. >> neil: and charlie, i kind of expect they're doubling down on that, but to dismiss the debt is not an issue and earlier in the day. the white house saying we're close to the 4 trillion dollars in budget savings over the next ten years. and again, i should stress over the next ten years and they're not to the 4 trillion and the ways of getting there is-- but, implied in that is one and done. and this is, we're done with the e whole debt thing. >> yeah, i mean, there's a sort of fantasy aspect to the presidency. like health care, going to pay for itself. i mean, yeah, yeah, right. we can just spend the money on stimulus, we don't care where it goes. it will be good for the economy and guess what, you fund solyndra and it's a shovel ready projects as we know that happened. i will say this, the president generally, politically is at his worse when he's the most liberal. if you look at when the republicans actually looke at the house and picked up seats in the senate when he was
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pushing his big government agenda. when he backed off of that, the second year, year and a half. that's when president obama seems a lot more reasonable. i think he's overshooting and going to shootimself in the foot. >> adam. i want to get-- i think this is personal though. a much bigger problem that's coming across from prominent democrats, not only avoiding the spending problem, but dismissing it as a problem as all. let's listen to some reaction. >> it's almost a false argument to say we have a spending problem. >> i want to disagree with those who say we have a spending problem. >> and we have a spending problem. >> and when he talk about that, like there's an assumption that somehow, we as a nation are broke. >> what do you think of that adam? >> it's funny, i knew-- i just could sense in my bones we were coming to nancy pelosi first on the subject. and-- >> could have picked any one of a half of dozen prominent democrats last week, i chose herecause of the eyes, but
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you have to admit that's bizarre. >> i don't tnk so. here is what they're saying, they're saying this isn't a spending problem. it's a political problem in fact we can-- >> a trillion dollars or going out and coming in is not a political problem, it's just a problem period. >> no, you have to have it, you have to have it coming in, we listen, we hear what we want to hear and the president also spoke in that fantasy spch, charlie, about cutting spending in other places, about raising revenue in other places. >> no, no, hold it, adam. >> let me finish, charlie, it will be all years. the question is what do we want, what do we want to pay for, what as a country we're interested in spending on. that's what the the democrats are saying. >> adam. >> here is what we've got to do. we have a spending problem. i don't know any other way to say it not saying it from the left or right. we have a spending problem. we have more money going out. a trillion going out each and every year than coming in. and i don't know, how to address that, it's like an aa
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meeting, someone has to stand up and say i'm a spend aholik. >> and i'm going to stop. there are no choices made here and at the end of the day we have to start cutting back somewhere and that state of the union address that was a shopping list. if i was king of the world and i could afford anything, what would i buy. >> and the shopping list always-- adam, i couldn't get through that entire speech i had acid reflux halfway through, but. >> that's your problem. >> and i know you liked it. >> yeah, i did, i did. >> what's the spending program he wants to cut? >> well, the military is-- >> oh, of course. >> and where we are going to be -- we are going to be able to save money on military spending, we should all be very glad and hopeful. >> there's more terrorism in the world. >> and there's no more terrorism. we press a button. >> i'm not even into this part what can be cut and when, i
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guess what i'm getting at charles payne and we've got your mic back on, and we do. is this notion of it's not seriou enough to even mention, in other words, when anything comes up to address or how we're going to be looking at this, and sort of saying, we're done with this whole debt thing because we've cobbled together a 4 trillion dollar package that we had to cobble together. when we think we're cutting, when in fact over the next ten years, even the best scenarios we're going to have 5 trillion dollars and more debt than we have now. it's like an alternate universe. >> number one to charlie's point. the president is only cloaking his agenda and with economic theories to try to push him through. i don't think the president cares for one second, not an iota of a second about deficits. i don't think he cares. he has an agenda, not an economic agenda. it's an agenda about social justice and rewriting the wrongs of yesteryear, not only redistribution of wealth. but redistribution.
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and somehow everybody in in country who are somehow victims were victims from honest hard working people and organizations that had nothing, zero to do with the circumstance in life. >> could i help with that. >> neil: adam, go ahead, go ahead. >> well, i obviously disagree with the way you said it, charles, but there's a lot of truth to what you say. and the president absolutely, social justice is part of his agenda, if you want to put it that way so this is a good conversation, you're right. the president stands for social justice. >> it's an or wellion theme here. we don't spend money, we don't tax enough. the obama presidency and it's aided and abetted by the media, makes up its own terms, it tries to describe spending in the sense weon't tax enough. it's a bizarre way of looking at the world and what it-- >> and you want to talk orwellion-- >> you have a media that's complicit with his sales job. >> oh, come on. >> neil: you're one of the smartest journalists i know.
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i want to be on welcome and-- >> welcome back, neil. >> thank you, sir. >> neil: who can crunch numbers and who went through the apple spread sheets over many years, better than anyone i know. you don't think we have a spending problem in this country? >> i think we do have a spending problem. i think the president addressed it the other night as much as he addressed some of the other-- >> youon't address the spending problem by spending more. and like he me saying on pluto i'm svelte, and on earth i'm not. and we have to wake up and worries me you, the journalist, probably one of best with the numbers i know. obviously can look at the numbers and say i'm taking the path that things are okay. >> the state of the union speeches are high level laundry lists as gerri said, said we need to do both, cut the-- >> take the laundry out and it's done with the stupid speeches we should stop state of the union, makes no difference whatsoever. >> have a state of the union, but hold him accountable. where is the new york times on
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this? and i'm just-- add it up. >> neil: meanwhile, when we come back, if you build it the jobs will come. that's what the white house is to say with a new 50 billion dollar plan for vacant and foreclosed homes and saying it will lead to a jobs boom. and some of the forbes gang saying more like-- up next, bigger airlines and planes a lot more angry passengers.
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and i'm molly line, you're watching the most powerful name in news, fox news channel. >> neil: well, fasten your seat belts the world's biggest airline is ready for takeoff or close. hope you have some dramamine. they're deeming up on a 11 billion dollar deal and could be a headache for you because that's going to have four airlines to look out for collectively about 90% of all domestic u.s. flights. now, that means, fewer carriers who are going to have fewer planes, but we're going to have the same if not more passengers, and catching the drift here? gerri it's not a good drift. >> it's not a good drift. and the two ceo's said nothing is going to go wrong here, we're going to see prices low and move them down. that's not true, that's not going to happen and prices are going up. and listen, we saw prices go up, after the delta merger and individual routes up as much as 20% and prices have gone up
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27%, not too bad, but that doesn't include baggage fees, that doesn't include the cost for the extra leg room and prices are through the roof and they're only going higher. >> i cringe when i heard the news, it's just, it's already a poor experience. >> neil: if only you flew commercial. >> i'm looking like it it-- a freddy still alive. i understand survival within the industry, a terrible business and terrible industry, but as a flyer i cringed. >> what are they going to do? they have to do this. >> come on, they don't. >> of course they do. >> what, are you crazy, they don't? why are they doing this then because they want to-- >> are you worried about the fallout to gerri's point? >> what's the solution, we know that prices are going up. this is a lousy industry. if the barriers to entry are too high that's when we sit around and talk about pricing all the time. that's nice, we know we're going to get screwed, but this is an industry that's doing this stuff for a reason because of pricing, because of
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cost. listen, it's-- i know banking, i'm not an expert citi, but i know about it. there's a barrier to entry for smaller banks, bigger survives becausef dodd frank and basel, basel-- and there are barriers to entry to investment banking and debt diversification. is there a barriers entry in the airline industry? >> and adam, i'm going to stand apart from a the lot of these guys, i don't think that airline ticket prices are that high. i note to gerri's point with the fees and everything you're getting gouged because they can't give you a ticket price and leave it at that and it is, it is cheap to fly in the scheme of things and i just suspect with the mergers, reality is going to start to come home and it won't be as cheap to fly. >> over the past 30 years, airline places came down
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dramatically after deregulation and got really inexpensive to fly and guess what, the airlines didn't make any money so of course, prices are going up. and i also think that small airlines will start up where routes are being served well, and they'll offer ultra cheap prices and they'll succeed and some will fail. this thing has a cycle to it. >> you're going to e a lot of rural routes disappear, that's my prediction, about a hundred cities-- >> if you think about it, southwest started the idea to feed an area of the country that were not served by the big guys, you don't see that happening again? >> well, i just think that you've had so much consolidation now that the rural routes aren't necessarily profitable. >> and those people-- >> the president has another program on his hands right here, you know? the rural, the rural airlines. you know it's coming. >> of cose. >> it is not coming. >> adam, please. >> come on. just wait. >> adam, you know that,
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that's-- >> and by the way, you just have to wait a year, one more state of the union. >> nice pivot, charlie. >> the obama pivot. and when we come back, our plastic foam pivot because you'll say goodbye to these soon the new nanny state ban that has someone here foaming at the mouth.
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>> all right. first, super sized drinks and now plastic foam. new york city mayor michael bloomberg pushing the packaging used usually to-go. and charles says the ban has to go. >> you get something with gravy on it, put it in paper? and hopefully don't have far to go. i don't think the president-- i'm sorry, the president -- mayor bloomberg understands little people. all the little ma and pa stores in the bronx and the city that just the inventory change alone could break their backs, but it's nuts, so imperial to me. >> neil: what do you make of it, adam? >> well, 20 years ago i covered the story when mcdonald did away with the polly styrene clamshell. they went to a product not as good, but they and their customers survived and i expect you new yorkers will
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survive this ban as well. >> neil: dpchgerri. >> there's a money angle, in the house they banned styrofoam and costs went through the roof. and the bodegas on 6th and 48th and 47th can't afford to make this change, it's ridiculous. >> i started his soft drink move because, well, because we have socialized medicine in new york and if you're going to have socialized medicine you get to control what people, the poison that people put in their body, but it does seem that like he gets caught up in these, in these sort of nanny state issues like, for example, it's his way or the highway, we're going to have the new york city marathon. going to have runners run through staten island, devastated like a third world nation and he doesn't care. he goes way too far. i like the mayor, a brilliant guy, a very good mayor, but he goes -- just too cute by half. >> too cute by half. and in new york city they're going to allow you to carry marijuana, but not allowed to
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have a 16-ounce pepsi. what world are we living in. >> and is that what it is. >> i think it's that. >> and my issue with this whether you're pro or con styrofoam, charles, it's just, aren't there bigger issues on the table. >> that's my main issue with it, new york city, listen to charlie's point the mayor has done a great job, we have problems that rank higher than styrofoam, just little bit higher, what about them? just a little higher. if you're going out, the way he takes his victory lap, i don't know. >> neil: i want to thank charli and gerri. we've got a lot more coming up next, including the market in 2013 rocking it. but our charles payne,'s knocking it out of the park. for this new year, trinity industry is up 18% and now he's got three new picks for the rest of the year.
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